The following set of items describes activities completed by a company in purchasing and paying for merchandise and in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. (Choices may be used more than once.)
-Although department supervisors can request a preferred supplier or vendor,the purchasing department is responsibile for making the final decisions on a vendor.

Question

Quizplus · Accepted Answer

This adheres to sound internal controls because it centralizes purchasing decisions within a specific department, reducing the risk of fraud or bias in vendor selection and ensuring that purchasing decisions are made by those with the appropriate expertise and oversight.

The Following Set of Items Describes Activities Completed by a Company